Posted on 04/12/2011 8:55:35 PM PDT by flowerplough
...Household wealth -- what is owned minus what is owed -- is important to children because it allows their parents to afford high-quality early education, save for their college tuition, help them with a down payment or leave them an inheritance. According to the latest data, black households with children hold only 4 percent of the wealth of white households. And things keep getting worse.
A new study from the Insight Center for Community Economic Development looks at U.S. households with young children. More than half of white families had incomes that were more than 185 percent of poverty levels and owned multiple assets, such as savings accounts, homes and investment portfolios, but only 14 percent of African-American families were similarly situated.
Following the same children over 13 years, it was found that the gap increased as the children grew older. In 1994 white households had $25,000 more in median wealth than African-American households, but by 2007 the gap had nearly doubled to $47,000 -- enough to pay for one child's college tuition and fees for four years.
Besides not being able to afford college, an economically vulnerable child of color is less likely to be prepared for a postsecondary education. The Insight Center study connects the dots between levels of wealth and various markers of a child's readiness for school, using the Early Childhood Longitudinal Study, Birth Cohort, which followed the same 14,000 children from their birth in 2001 until age 5.
(Excerpt) Read more at theroot.com ...
"I never thought this day would ever happen. I won’t have to worry about putting gas in my car. I won’t have to worry about paying my mortgage. You know. If I help [Obama], he’s gonna help me.”
If most black households have only 1 parent, no wonder they have less money.
A real DUH moment for this “study”
OK its fixed now!
Sounds like a good reason for children of color to take advantage of the free public education and get a diploma.
BINGO!
And whose fault is this?
The evil, successful white family, or, the 16 year old black girl who can’t keep her panties on, the 17 year old black boy who can’t keep his pants on, who leaves the moment she’s pregnant to go impregnate another ‘ho’ and repeat the cycle?
The only way you have unspent money is if you don't piss away every penny you get your hands on.
Basically, responsible people who save owe their savings to irresponsible people who piss everything away.
And keep their pants on until they’re married and stable.
Well if they would stay the hell out of prison and get married like normal folk, they wouldn’t have this problem...
Perhaps it is because in many white familes there is both a Dad and a Mom who both work instead of just Mom doing it on her own with no support at all from Dad? I was just talking with my Hubby and I wondered out loud if no one had ever told a liberal that life is not fair and can’t be made that way?
Perhaps it is because in many white familes there is both a Dad and a Mom who both work instead of just Mom doing it on her own with no support at all from Dad? I was just talking with my Hubby and I wondered out loud if no one had ever told a liberal that life is not fair and can’t be made that way?
“Well if they would stay the hell out of prison and get married like normal folk, they wouldn’t have this problem...”
I see great opportunities in the future for “persons of color” who are willing to work hard and follow this path. They can get into a trade and start socking away money years before their idiot white cohorts will even START paying off their $60,000 dollar Political Science (with a Theater minor!) degree at $7.50 an hour working at Mickey D’s.
Considering the state of public education and the schools that furnish such, I doubt they have a chance. Especially if they have to go to a school in the progressive inner (?) city schools that seem to be the norm in our midst today.
Color—blah blah blah—victims—blah blah blah—race-—disadvantaged—blah blah blah—white privilege blah blah blah.
Many Americans are getting tired of it.
Things might even out some...
Yes, the reason for the poverty is the almost total absence of a stable two parent family.
I suppose this being 2011 I must add that two parent means the one mom and the one dad.
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